Home Business NewsBusinessBanking News Credit Suisse boss Tidjane Thiam ousted following spying scandal

Credit Suisse boss Tidjane Thiam ousted following spying scandal

by LLB Editor
7th Feb 20 10:15 am

Credit Suisse boss Tidjane Thiam has resigned after over four years with the bank following a spying scandal.

In September, Iqbal Khan, Credit Suisse’s former star wealth manager, who left to work at rival UBS, confronted a private detective following him and his wife through downtown Zurich.

Credit Suisse later admitted to also tailing its former human resources head Peter Goerke, which has prompted an investigation by Swiss financial watchdog FINMA.

“I have agreed with the Board that I will step down from my role as chief executive. I am proud of what the team has achieved during my tenure. We have turned Credit Suisse around. In particular, we have grown our leading Wealth Management franchise, reenergised our Global Markets business and pursued a bespoke regional approach to client coverage,” Mr Thiam said in a statement about his resignation.

He added: “I had no knowledge of the observation of two former colleagues. It undoubtedly disturbed Credit Suisse and caused anxiety and hurt. I regret that this happened and it should never have taken place.”

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